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parallel media group plc (PAA) Details

Parallel Media Group plc operates as a communications agency in the areas of sports, entertainment, and media in South Korea, Hong Kong, Singapore, the United Kingdom, and Europe. The company’s activities include promotion of sport, music events, and associated media activities. Its Sports segment operates professional golf tournaments worldwide sanctioned by The European Tour, The Asian Tour, and The Korean LPGA with a focus in Asia. The company’s Entertainment segment engages in connecting brands with music solutions in the Asian markets, as well as promoting music related events. Its Media segment develops smart media applications for the sports and entertainment sector. The company is also involved in the exploitation and sale of commercial and broadcasting rights relating to golf tournaments. Parallel Media Group plc was founded in 1987 and is based in London, the United Kingdom.

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Parallel Media Group plc Reports Consolidated Earnings Results for the Year Ended December 31, 2014

Jun 30 15

Parallel Media Group plc reported consolidated earnings results for the year ended December 31, 2014. For the period, the company reported revenue of GBP 692,000 compared to GBP 7,817,000 a year ago. Operating loss was GBP 1,027,000 compared to operating profit of GBP 83,000 a year ago. Operating loss after exceptional Items was GBP 4,675,000 compared to operating profit after exceptional Items of GBP 83,000 a year ago. Loss before tax was GBP 4,611,000 compared to GBP 186,000 a year ago. Basic and diluted loss per share was 153.2 pence compared to 6.2 pence a year ago. Cash generated from operations was GBP 39,000 compared to cash used in operating activities of GBP 1,827,000 a year ago. Acquisition of property, plant and equipment was GBP 9,000.

Parallel Media Group Plc reported consolidated unaudited earnings results for the six months ended June 30, 2014. For the period, the company reported revenue of £572,000 against £7,630,000 a year ago. Operating loss was £412,000 against operating profit of £734,000 a year ago. Loss before tax was £443,000 against profit before tax of £657,000 a year ago. Loss for the year attributable to equity holders of the parent was £443,000 or 14.7 pence per diluted share against profit for the year attributable to equity holders of the parent of £684,000 or 21.8 pence per diluted share a year ago. Cash generated from operations was £113,000 against cash used in operations of £1,827,000 a year ago. Acquisition of equipment was £9,000.

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